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Question A3 Measurement in Accounting (4 marks, 200 words) 1. Why is measurement so important in financial reporting? (2 marks) 2. How does measurement effect

Question A3 Measurement in Accounting (4 marks, 200 words) 1. Why is measurement so important in financial reporting? (2 marks) 2. How does measurement effect the amount of reported profits/losses and assets and liabilities? Except for Inventories, use examples of measurement from the Coles 2021 financial statements to explain your answer. (2 marks)

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